Fed chair Jerome Powell to speak on market concerns Thursday

Dow Jones Industrial Average Last 5 Days Source TradingView

"The U.S. economy is solid", Mr. Powell said.

The central bank's vice chairman, Richard Clarida, said later on Thursday that if the global slowdown and tightening of financial markets persists, the Fed would take policy steps to offset that.

Powell pointed out that the USA may be more vulnerable to a slowdown in global growth because of the rise on globalized business and supply chains.

The Fed chief was also asked about the partial US government shutdown. He brushed off the idea that tariffs were having a bit impact on either the USA economy or China's, saying trade disputes had not left a "visible mark" on the economies of either country.

Recessions are typically caused by inflation rising quickly and forcing the Fed to respond with high interest rates or some sort of bubble in markets.

Thursday's brief drop stood in contrast to the response to Powell's remarks last Friday, when the Dow surged 747 points after Powell said the Fed is willing to be "patient" and "flexible" about future interest rate hikes - sentiments he reiterated Thursday.

Xiaomi cuts prices of four smartphones, including Redmi Note 6 in India
On Bluetooth SIG's website, the Redmi Note 7 has been certified under two model numbers - M1901F7G and M1901F7H. It has a tiny notch at the top of a 6.3-inch 1080p screen and is powered by Qualcomm's Snapdragon 660 chipset.

US Federal Reserve Board Chairman Jerome Powell participates in a luncheon discussion hosted by the Economic Club in Washington, US, Jan. 10, 2019.

The prospect of rising interest rates that could slow the economy spooked investors and contributed to the downturn in U.S. and global stock markets late past year. Big picture: "they don't have that much further to go and they don't have to go there fast", said Robert Tipp, chief investment strategist with PGIM Fixed Income in Newark, New Jersey.

The Fed chair, who has been publicly criticised repeatedly by President Donald Trump in recent months, warned that if there is an "extended shutdown", it would have an impact on the economy that "would show up in the data very clearly".

"If we find that the ongoing program of balance sheet normalization or any other aspect of normalization no longer promotes the achievement of our dual-mandate goals, we will not hesitate to make changes, " Clarida said. "You should anticipate that we're going to be patient and watching, and waiting and seeing".

He also said that the Fed had no preset path for rate hikes and would be "patient" when determining whether to hike interest rates further in response to strong US growth that risks sparking inflation, or to pause rate hikes to account for a global economic slowdown.

The central bank's quarterly forecast in December showed Fed officials still expect two more increases in 2019.

Related News:

  • Marko Arnautovic delivers West Ham transfer bombshell

    Marko Arnautovic delivers West Ham transfer bombshell

    Shanghai SIPG are the side said to be interested and have reportedly offered a wage packet of £200,000 per week over a four-year deal.
    Packers, LaFleur agree to four-year deal

    Packers, LaFleur agree to four-year deal

    LaFleur takes over for Mike McCarthy, who was sacked during the season following a stunning home loss to Arizona on December 2. The Packers made the first head coaching hire of the 2019 National Football League offseason with Matt LaFleur .
    New York Yankees: Manny Machado to decide, sign within a week

    New York Yankees: Manny Machado to decide, sign within a week

    What's more is that the Phillies are also still in on Bryce Harper too, which would make them the MLB's version of a super team. Mark Feinsand of MLB.com wrote that there is "momentum building" toward Harper going back to D.C.
  • The Fantastic Four Arrive In ‘Marvel Future Fight’

    The Fantastic Four Arrive In ‘Marvel Future Fight’

    Given Insomniac's sense of humour, my money is on the infamous Bag-Man costume that Spider-Man had to don in the comics. Marvel's Spider-Man is available now on PS4. "It's going to be wonderful and fantastic".
    Las Vegas Police issue warrant to obtain Cristiano Ronaldo's DNA

    Las Vegas Police issue warrant to obtain Cristiano Ronaldo's DNA

    Ronaldo then allegedly raped Mayorga, despite her screaming "no", before saying: "Sorry, I'm usually a gentleman". Kathryn Mayorga went to cops back in '09 but didn't identify Ronaldo by name out of fear of retaliation.
    Tim Tebow is engaged to former Miss Universe

    Tim Tebow is engaged to former Miss Universe

    According to PEOPLE , Tebow proposed to girlfriend and former Miss Universe Demi-Leigh Nel-Peters in Jacksonville on Wednesday. Tebow, a former star at Nease High School, has reportedly been seeing Nel-Peters for about two years.
  • Comatose Arizona rape victim and baby son recovering in hospital, police say

    Comatose Arizona rape victim and baby son recovering in hospital, police say

    Phoenix police have said little about the investigation, and did not immediately respond to HuffPost's request for comment. Hacienda HealthCare said they accepted DNA testing of its employees and will cooperate with officials.

    Ramsey To Undergo Medical This Weekend Ahead Of Juventus Move

    Ramsey joined Arsenal for £4.8million from Cardiff City and has played 252 games for Arsenal , scoring 52 goals. Chelsea's policy is to never sell when a player's perceived value is low, so instead they organise a loan first.
    New York City mayor announces $100 million health care program

    New York City mayor announces $100 million health care program

    The mayor announced the plan the day after a Democrat on the other side of the country, California Gov. In a tweet, de Blasio said the plan will "ensure the first stop for people isn't the emergency room".
  • National Enquirer Publishes Alleged Texts Between Jeff Bezos and 'Mistress'

    National Enquirer Publishes Alleged Texts Between Jeff Bezos and 'Mistress'

    Mr Bezos is the founder and chief executive of Amazon, which recently took Microsoft's spot as the most valuable USA firm. She has a teenage son from her first marriage to former National Football League player Tony Gonzalez.
    Hubble space telescope captures awesome  galaxy image

    Hubble space telescope captures awesome galaxy image

    This is the second-largest image ever released by Hubble and shows Triangulum's central region as well as its inner spiral arms. Still, Messier 33 remains an important find, its abundance of gas clouds drawing astronomers to conduct this detailed analysis.
    Brexit impact: Jaguar Land Rover to cut 4,500 jobs worldwide

    Brexit impact: Jaguar Land Rover to cut 4,500 jobs worldwide

    A Ford spokesman said the auto maker now assumes that any Brexit deal would keep tariff-free trade between Britain and Europe. Sales at the SUV-heavy unit, more than double the size of the sports-car business, declined by 6.9 per cent previous year .


Most liked

Diana Edulji recommends `suspension pending inquiry` against Hardik Pandya, KL Rahul
He said, "We, definitely, as the Indian cricket team do not support views like that and that has been communicated". He also took the opportunity to distance himself from the comments made by Pandya and Rahul.

Milwaukee Bus Driver Rescues Lost Baby
She runs across the street and picks up the crying boy, who was making his way around a corner, bringing him on board her bus. Police say the boy had been left outside by his mother, who may have been suffering from a mental health crisis.

Police seek DNA from facility’s male staff
It's also unclear if staff members at the Hacienda de Los Angeles facility were unaware of the pregnancy until the birth. So long as whoever impregnated the patient is on the loose, the Arizona woman has vowed to stand guard.

National Basketball Association continuing investigation into Cavs, speaking to Patrick McCaw’s representatives Thursday
The Warriors took note of what was unfolding and asked the National Basketball Association to take a look at the situation. McCaw played just three games in Cleveland after signing a nonguaranteed two-year, $6 million deal with the Cavaliers.

Luka Doncic Tallies Fourth-Most All-Star Votes in Second Return
The 68th All-Star game will take place at Spectrum Center in Charlotte, N.C., on February 17 at 8 p.m. Complete details of the second 2019 NBA All-Star Game fan voting update below .

Mercedes-Benz CLA unveiled at CES in Las Vegas
Low drag coefficient means better aerodynamics and that can make a auto go faster and more fuel efficient as well. Engine outputs are 225 hp and 350 Nm of torque, transmitted to the wheels via a 7G-DCT dual-clutch transmission.

Nerlens Noel has been diagnosed with a concussion after hard fall
Noel went to block an Andrew Wiggins dunk attempt and the two collided which resulted in Noel smashing his head on the court. Saunders, who has been part of the Timberwolves' coaching staff since 2014, was reluctant to take credit for the win.

Tim Cook Promised New Services, said Qualcomm Promoted 'Fake News'
All eyes will be on the March guidance as the key swing factor for the shares in the near term, they said. It would be the second time Apple has cut iPhone in the last two months if the report is accurate.

Mourinho free for Real Madrid return
Everything has been sorted", said a source close to the former United, Inter and Real Madrid boss, the Daily Mail reported. Jose Mourinho has only been out of a job for a few weeks, but he is already set to return to our television screens.

Sheriff's office: 13-year-old missing WI girl found alive
Allard mentioned that the family is "appreciative" of everyone's efforts in helping find Closs. More than 2,000 volunteers showed up to help with two grid searches around Barron in October.

AT&T gets burned by rivals over its fake 5G network
Like 4G before it, the initial rollout of 5G technology to the market is filled with hype and false claims. But AT&T is forging ahead. "Didn't realize it was this easy, brb updating", T-Mobile said .

Meghan Markle Reportedly Offered Millions to Return for 'Suits' Episode
Thomas Jr., 52, and Darlene, 38, will either marry in Reno or Las Vegas, and have been dating for two years. Thomas, 74, has previously said that he has not spoken to his daughter since she married Harry on May 19.

Aaron Ramsey ignored Gareth Bale advice over Arsenal exit
The two enjoy a great relationship on and off the pitch and Real Madrid had made contact over a move, though Ramsey has elected to join Juve instead.

CES 2019: Samsung debuts next-gen family hub refrigerator
The 27-inch model offers QHD resolution for incredibly detailed, sharp images, while the 32-inch model presents content in 4K UHD. Samsung is yet to confirm the date, but the company will soon issue invites for the Galaxy S10 press conference.

AMD Unveils 7nm Radeon VII GPU as Response to NVIDIA's RTX 2080
Su promised that Radeon 7 would offer 25% more performance at the same power consumption as the first generation Vega GPUs. Now while AMD claimed that this new GPU targets 4K gaming, it's obvious that in some titles it can not come close to it.